Answer:
Monthly installment= $168.77
Explanation:
<em>Loan amortization is a loan repayment arrangement where a loan is repaid using a series of equal installments over the years of the loan. Each installment covers the interest due and a portion of the principal balance
</em>
The monthly installment = Loan amount/monthly annuity factor
<em>Annuity factor = (1 - (1+r)^(-n))/r)
</em>
r - monthly interest rate, n- number of months
Monthly interest rate = 6%/12= 0.5%
Number of months = 15× 12 = 180
Annuity factor = ( 1-(1.005)^(-180))/0.005
= 118.50
Monthly installment = 20,000/168.771
= $168.77
Answer:
Monthly installment= $168.77
Answer:
The answer is attitude
Explanation:
Hope this helps:)...if not then sorry for wasting your time and may God bless you:)
The answer to the question above is "To maintain its liquidity if customers make demand whether its withdrawal or saving" based on the reserves meaning. A central bank holds the commercial banks excess of capital to maintain their liquidity. A bank will always have the liquidity risk to its business. This reserve is made to assure banks' liquidity.
Answer:
$14.49
Explanation:
Present P/E ratio = Current stock price/(Net income/Shares outstanding)
Present P/E ratio = 14.75/($8,000,000/5,500,000 shares)
Present P/E ratio = 10.1406
EPS after 1 year = 8000000*125%/ 7000000
EPS after 1 year = 1.4286
Stock price = EPS after 1 year * Present P/E ratio
Stock price= 1.4286* 10.1406
Stock price = $14.49
Answer:
Cash Dr 10975
To Sales $10,000
To Sales Tax Payable $975 ($10,000 × 9.75%)
(Being the cash is recorded)
Explanation:
The journal entry is shown below;
Cash Dr 10975
To Sales $10,000
To Sales Tax Payable $975 ($10,000 × 9.75%)
(Being the cash is recorded)
For recording this we debited the cash as it increased the assets and credited the sales and sales tax payable as it also increased the revenue and liabilities
